Avitas Wealth Management LLC Takes Position in SPDR S&P Bank ETF (NYSEARCA:KBE)

Avitas Wealth Management LLC acquired a new position in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) during the third quarter, HoldingsChannel reports. The fund acquired 4,278 shares of the exchange traded fund’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lynx Investment Advisory purchased a new stake in shares of SPDR S&P Bank ETF during the 2nd quarter worth approximately $45,000. Fifth Third Bancorp boosted its position in SPDR S&P Bank ETF by 9.6% during the second quarter. Fifth Third Bancorp now owns 2,520 shares of the exchange traded fund’s stock worth $117,000 after purchasing an additional 220 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in SPDR S&P Bank ETF during the second quarter worth $134,000. Harbour Investments Inc. grew its holdings in SPDR S&P Bank ETF by 10.2% in the second quarter. Harbour Investments Inc. now owns 3,721 shares of the exchange traded fund’s stock valued at $173,000 after purchasing an additional 343 shares during the last quarter. Finally, Sovereign Financial Group Inc. purchased a new position in shares of SPDR S&P Bank ETF in the third quarter valued at $208,000.

SPDR S&P Bank ETF Price Performance

Shares of NYSEARCA KBE opened at $55.47 on Thursday. The firm’s 50-day moving average is $53.14 and its two-hundred day moving average is $49.44. The company has a market capitalization of $1.63 billion, a PE ratio of 7.86 and a beta of 1.42. SPDR S&P Bank ETF has a 12-month low of $34.92 and a 12-month high of $56.41.

About SPDR S&P Bank ETF

SPDR KBW Bank ETF, formerly The SPDR S&P Bank ETF (the Fund), seeks to closely match the returns and characteristics of the S&P Banks Select Industry Index. The S&P Banks Select Industry Index is a float adjusted modified-market, capitalization-weighted index that seeks to reflect the performance of publicly traded companies that do business as banks or thrifts.